Tron (TRX) eyes top 10 spot with 14% price surge as others keep quiet

The crypto-market rests in the red-corner at the moment (mostly) as there aren’t too many activities lately. Although one cryptocurrency that has gained lots of attention in the last 24 hours is Tron (TRX) as it has gained more than 14%; most traders didn’t see this coming.

While other altcoins aren’t doing well in the crypto-sphere lately, there may be some changes soon. However, as it stands now, Tron (TRX) looks to be in stiff competition with Monero for the top 10 position in the crypto-market.

Tron’s Performance in the Crypto-market

Last week, Tron’s price was falling below par as it couldn’t go beyond 23 cents. Surprisingly in the last 24 hours, TRX increased more than 14%, trading at $0.027 with a market capitalization of $1.79 billion. Much of its increase has been somewhat due to the rise in the trading volume of TRX/BTC, even though Bitcoin itself hasn’t still recovered.

At the time of writing, TRX has further increased, and it is on the green by just a bit above 14%, and hence the Justin Sun led crypto is tracking Monero which is down by 0.30%.

Subsequently, we could see a higher price surge with Tron as it now has a large trading volume compared to what the coin had last week. It is necessary to also keep in mind that if this trend continues on TRX, it could displace Monero at the number 10th position shortly – although, Monero looks to be coming back to life gradually at these crucial times.

Even though we have seen a good surge in the price of Tron, it still hasn’t reached its peak yet. But on the other hand, some Tron enthusiasts didn’t fail to express their confidence in holding TRX.

It's easier to hide behind a keyboard and call a genuine Project shit than acknowledge that they were wrong and accept defeat.

Another Tron holder who goes by the Twitter handler @CryptoMento said this:

“The people calling $trx a shitcoin are the same people who are rekt because they don’t do any research. Open your eyes people”

As in any case, there still are people who are not convinced yet even after the recent Tron price spike. A user said it’s all just because of the marketing by team Tron, the tweet reads:

“Their ploy worked. they donated money and people are talking about it. if people are talking about it, their marketing scheme worked. like i said, they are master marketers, but thats it imo.”

In other news, today is the official activation of Tron’s Virtual Machine. Tron’s Virtual Machine is pivotal to Tron’s network as it will help Dapps developers install Dapps on Tron’s system and Tron’s Super Representatives nodes.

“It’s expected that the TVM will be officially activated after the voting on October 8. By then, the 3 main features: the committee, the TVM, and decentralized exchanges will be activated”

Indeed, it is expected Tron’s Virtual Machine will attract lots of Dapps developers. It has also been said that if more developers install their Dapps on Tron’s network that will positively affect the price of TRX in the future.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation.

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated.

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified.

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders.

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

Can Libra help the crypto industry to reach new heights?

The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

Why Blockchain Projects Keep Failing

If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.